Fishron Securities Ltd, a joint venture between TA Fisher and Lamron Estates Ltd, advised by Curchod & Co, has completed the purchase of Lion Court, a nine-acre site in Bordon, Hampshire, and, in a simultaneous transaction, has let the vacant accommodation to locally based firm, Richers & Vision.
The site includes 26,000 sq ft of industrial and warehouse accommodation, laboratories and office space which had been vacated following the relocation of the German pharmaceutical company Fresenius Kabi.
Richers & Vision, a returns management business, currently based on Enterprise Park in Bordon, refurbishes customer-returned products to 'as new' or graded condition, making them ready for resale. The property has been taken on a new 10-year lease at an annual rent of £275,000.
Malcolm McPhail, of Fishron Securities, said: “Bordon has seen massive inward investment over the last few years with significant new residential and commercial developments. This has resulted in pent-up demand from existing companies in the area, along with those looking to locate here to benefit from the town’s regeneration. Richers & Vision is part of the success story of Bordon, and we are delighted to have secured this off-market transaction and to have tied up a pre-let concurrently with acquiring the site.”
Nick Reeve, a partner of Curchod & Co in Farnham, said: “With offices in Dubai and Korea, Richers & Vision is a growing international business that has outgrown its existing facility at Enterprise Park. The purchase of Lion Court by Fishron Securities presented the opportunity to negotiate a seamless deal and secure a rapid letting to make the property an income-producing asset rapidly after its purchase.”